What does BNY Mellon do as the stock plan administrator, and how is that different from what it does as the transfer agent?
As the stock plan administrator, BNY Mellon processes enrollments, purchases and terminations under SAIC’s ESPP. In this line of business, BNY Mellon is able to utilize their brokerage line of business to provide broker type functionality for stock sales. The sale functionality for shares held in the ESPP account is industry standard to facilitate sales of plan shares. As the transfer agent, BNY Mellon keeps track of vested shares issued and cancelled in stockholder accounts. At SAIC’s request, BNY Mellon offers the BNY Mellon share selling program for the convenience of stockholders. This program works differently than sales executed by their stock plan administration line of business because BNY Mellon is solely acting as an intermediary between the stockholder and the broker who actually sells the shares. Selling programs are often most attractive to stockholders with small account balances who do not have their own broker. Stockholders should consider the pros and cons of selling s